Church & Dwight Co., Inc. reported first quarter net income rose 11% to $62.6 million. Net sales jumped 5% to $580.9 million. Organic sales increased by approximately 6%, excluding the impact of foreign exchange, acquisitions and divestitures.
“We are very pleased with our solid first quarter results particularly in this difficult economic environment,” said James R. Craigie, chairman and chief executive officer. “Our results reflect continued strong organic sales growth and exceptional gross and operating margin expansion. The organic sales growth was driven by strong consumer appeal for our high quality value-oriented products, carryover benefits of 2008 pricing actions, new products, and a significant increase in marketing spending, partially offset by soft sales in the Specialty Products Division. The improved gross margin reflects pricing, earlier than expected benefits from lower commodity costs, acquisition benefits relating to the acquired businesses from Coty, Inc. and cost reduction programs.”